Galapagos (NASDAQ:GLPG) Sets New 1-Year Low at $47.96

Galapagos NV (NASDAQ:GLPG) hit a new 52-week low during trading on Tuesday . The stock traded as low as $47.96 and last traded at $47.96, with a volume of 3144 shares. The stock had previously closed at $49.30.

GLPG has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Galapagos from a “buy” rating to a “hold” rating in a research report on Tuesday, October 12th. Deutsche Bank Aktiengesellschaft cut Galapagos from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Friday, August 6th. UBS Group reissued a “neutral” rating on shares of Galapagos in a report on Friday, August 27th. Royal Bank of Canada raised their price objective on Galapagos from $64.00 to $65.00 and gave the company a “sector perform” rating in a report on Monday, November 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Galapagos in a report on Wednesday, August 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $93.10.

The company’s 50 day moving average is $52.68 and its 200-day moving average is $61.52.

Institutional investors have recently modified their holdings of the business. EcoR1 Capital LLC bought a new stake in shares of Galapagos in the third quarter worth approximately $82,006,000. BVF Inc. IL purchased a new position in shares of Galapagos in the third quarter worth $58,909,000. 683 Capital Management LLC lifted its holdings in shares of Galapagos by 2,004.9% in the third quarter. 683 Capital Management LLC now owns 701,421 shares of the biotechnology company’s stock worth $36,902,000 after buying an additional 668,098 shares in the last quarter. BlackRock Inc. raised its position in shares of Galapagos by 565.7% during the 2nd quarter. BlackRock Inc. now owns 407,175 shares of the biotechnology company’s stock valued at $28,050,000 after buying an additional 346,013 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Galapagos by 53.0% in the second quarter. Point72 Asset Management L.P. now owns 712,156 shares of the biotechnology company’s stock worth $49,060,000 after acquiring an additional 246,678 shares in the last quarter. 11.17% of the stock is owned by institutional investors and hedge funds.

Galapagos Company Profile (NASDAQ:GLPG)

Galapagos NV is a biotechnology company, which engages in the identification and development of small molecule and antibody therapies. It operates through the Research & Development and Fee-for-Services segment. The company was founded by Onno van de Stolpe, Rudi Pauwels, and Helmuth van Es on June 30, 1999 and is headquartered in Mechelen, Belgium.

Further Reading: Trading Halts Explained

Receive News & Ratings for Galapagos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galapagos and related companies with MarketBeat.com's FREE daily email newsletter.